3 Additionally, TurboTax filers who choose to deposit their refund into a Spend account could receive their refund early through direct deposit. For example, some tax filers who choose to deposit their entire refund into a Credit Karma Money Spend account 2 will be able to file their taxes with TurboTax for free. Now, Credit Karma members who choose to file their taxes with TurboTax within the Credit Karma app will be able to enjoy the best of both products, along with special offers and discounts. “By combining forces with TurboTax, we believe we can deliver more value to our members, giving them greater visibility into their income and taxes throughout the year and providing them with a seamless, first-in-class tax filing experience.”Ĭredit Karma is leaning into Intuit’s innovative technologies with its latest integration with TurboTax, the leader in online tax preparation. This is a problem we’re well positioned to solve, especially now that we are part of the Intuit family,” said Ken Lin, founder and CEO of Credit Karma. That’s because they can be intimidating and confusing for most people. However, for much of the year, taxes are largely ignored by consumers. “Much like credit scores, taxes are an essential part of our financial lives. Members will also be able to estimate their refund and review common tax terms to help them better understand their finances, navigate life events and plan for the future.

1Īdditionally, Credit Karma will launch a new feature to provide its members who previously filed their taxes with TurboTax with rich insights about their finances, income and taxes on an ongoing basis. Through this integration, Credit Karma and TurboTax, from Intuit (NASDAQ: INTU), will offer most filers with simple tax returns the option to file their taxes with TurboTax directly within the Credit Karma app and gain faster access to their refund with Credit Karma Money.

This includes seamless tax filing through TurboTax and faster access to refunds in-season through early deposit and refund advance programs, as well as deeper insights into their finances throughout the rest of the year.

You must report income on a Form W-2, 1099-R, Sched C, or Sched CEZ.OAKLAND, Calif.-( BUSINESS WIRE)-Credit Karma, the consumer technology platform with more than 110 million members in the U.S., has launched a new tax experience with the goal of taking the stress, uncertainty and complexity out of taxes and helping members make the most of their refund.

You also must be approved for a Turbo® Visa® Debit Card by Green Dot Bank, Member FDIC, the issuer of the card.

You can’t file on behalf of a deceased taxpayer.

Your address must be located in the United States and be from the eligible list of states for the Refund Advance program.

Your physical address is the address listed on your tax return.

You are e-filing your federal tax return with TurboTax.

You cannot be a resident of North Carolina or Illinois.

Your federal refund is $500 or more (excluding any Recovery Rebate Credit).

Here are the eligibility requirements to qualify for Refund Advance loan.

The Refund Advance won’t impact your credit at all. If the loan was offered and you did not accept it, you cannot change your mind after you e-file. It is too late to get the loan after you e-file. The IRS will begin to accept/reject 2020 returns on February 12, 2021. You do not get the money until the 2020 e-file has been ACCEPTED by the IRS.You also have to agree to receive your refund on a new prepaid TurboTax Visa. If you qualify the loan is offered at the time that you file your tax return. TurboTax is offering refund advance loans to those who qualify.

Turbotax refund advancement